Question 1

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy.

Accepted Answer

A)  product proliferation 
B)  market development 
C)  market penetration 
D)  diversification 
E)  product development 
A)  product proliferation 
B)  market development 
C)  market penetration 
D)  diversification 
E)  product development

Question 2

The strategic planning process always proceeds sequentially through the five steps.

Accepted Answer

A) True 
 B)False

Question 3

Some universities offer online degree programs,competing with traditional colleges based on the convenience of taking online courses.These online programs are most likely pursuing which macro strategy?

Accepted Answer

A)  customer excellence 
B)  locational excellence 
C)  operational excellence 
D)  product excellence 
E)  purchase excellence 
A)  customer excellence 
B)  locational excellence 
C)  operational excellence 
D)  product excellence 
E)  purchase excellence

Question 4

Which of the following factors,listed in a situation analysis for a major U.S.auto manufacturer,is the best example of a threat?

Accepted Answer

A)  The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. 
B)  Recent consumer studies have indicated that Chinese consumers prefer American cars. 
C)  A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. 
D)  Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. 
E)  The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices. 
A)  The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. 
B)  Recent consumer studies have indicated that Chinese consumers prefer American cars. 
C)  A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded. 
D)  Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. 
E)  The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices.

Question 5

LeBron James,Stephen Curry,and other athletes are paid huge sums of money by companies for celebrity endorsements.If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products,they can help with the firm's __________ strategy.

Accepted Answer

A)  product excellence 
B)  targeting 
C)  positioning 
D)  segmentation 
E)  customer excellence 
A)  product excellence 
B)  targeting 
C)  positioning 
D)  segmentation 
E)  customer excellence

Question 6

Even when large discount retailers enter a market,a few small,local retailers survive and prosper.These small retailers have probably developed a(n)________ that allows them to survive.

Accepted Answer

A)  advertising campaign 
B)  plan to evaluate results 
C)  sustainable competitive advantage 
D)  set of performance metrics 
E)  SWOT analysis 
A)  advertising campaign 
B)  plan to evaluate results 
C)  sustainable competitive advantage 
D)  set of performance metrics 
E)  SWOT analysis

Question 7

Fourteenth National Bank prides itself on offering better service than any of its competitors.If this is accurate,and if customers recognize and value Fourteenth National's superior service,the bank creates and delivers value through

Accepted Answer

A)  promotional excellence. 
B)  product excellence. 
C)  operational excellence. 
D)  global excellence. 
E)  customer excellence. 
A)  promotional excellence. 
B)  product excellence. 
C)  operational excellence. 
D)  global excellence. 
E)  customer excellence.

Question 8

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Accepted Answer

A)  being the first to offer customers desired features, even if competitors can copy them easily 
B)  positioning the product using a clear, distinctive brand image 
C)  having the most features on each model 
D)  focusing on being cutting edge and continually eliminating older features that are still in use by customers 
E)  copying the market leader's features, but at a lower cost 
A)  being the first to offer customers desired features, even if competitors can copy them easily 
B)  positioning the product using a clear, distinctive brand image 
C)  having the most features on each model 
D)  focusing on being cutting edge and continually eliminating older features that are still in use by customers 
E)  copying the market leader's features, but at a lower cost

Question 9

For years,when considering new products,marketers at Celestial Seasonings asked themselves,"What would Stacy think?" Stacy was a fictional character representing 25- to 50-year-old educated,upper-income women who rarely watched television but did a lot of reading."Stacy" represented Celestial's primary

Accepted Answer

A)  mission statement. 
B)  positioning. 
C)  SBU. 
D)  target market segment. 
E)  sustainable competitive advantage. 
A)  mission statement. 
B)  positioning. 
C)  SBU. 
D)  target market segment. 
E)  sustainable competitive advantage.

Question 10

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink.This positioning reflects Pepsi's

Accepted Answer

A)  locational excellence. 
B)  operational excellence. 
C)  careful targeting and marketing mix implementation. 
D)  strategic business unit control. 
E)  supply chain management. 
A)  locational excellence. 
B)  operational excellence. 
C)  careful targeting and marketing mix implementation. 
D)  strategic business unit control. 
E)  supply chain management.

Question 11

Lamar owns four dry cleaning stores in the suburbs of Orlando,Florida.He recently updated his STP analysis,and has just finished adjusting his marketing mix based on the STP results.His next strategic marketing decision will most likely involve determining

Accepted Answer

A)  how Disney World crowds will impact his business. 
B)  which employees to promote or fire. 
C)  how to allocate resources among his four stores. 
D)  what new government regulations might create opportunities or threats. 
E)  when to shift from a customer excellence to an operational excellence strategy. 
A)  how Disney World crowds will impact his business. 
B)  which employees to promote or fire. 
C)  how to allocate resources among his four stores. 
D)  what new government regulations might create opportunities or threats. 
E)  when to shift from a customer excellence to an operational excellence strategy.

Question 12

In a SWOT analysis,increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.

Accepted Answer

A)  weakness 
B)  threat 
C)  opportunity 
D)  operational advantage 
E)  locational advantage 
A)  weakness 
B)  threat 
C)  opportunity 
D)  operational advantage 
E)  locational advantage

Question 13

The strategic marketing planning process

Accepted Answer

A)  is a five-step process that should always be completed in order. 
B)  is frequently used in reverse. 
C)  begins with establishing specific, measurable outcomes. 
D)  is not always sequential. 
E)  forces marketing managers to think rationally. 
A)  is a five-step process that should always be completed in order. 
B)  is frequently used in reverse. 
C)  begins with establishing specific, measurable outcomes. 
D)  is not always sequential. 
E)  forces marketing managers to think rationally.

Question 14

The text states,"Viewing customers with a lifetime value perspective rather than on a transaction-by-transaction basis is key to modern customer retention programs." Create an example demonstrating a lifetime value perspective.Why is customer retention almost always a profitable marketing strategy?

Accepted Answer

Answers to the first part will vary,but

Question 15

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Accepted Answer

A)  product 
B)  place 
C)  promotion 
D)  price 
E)  primary 
A)  product 
B)  place 
C)  promotion 
D)  price 
E)  primary

Question 16

Carla has been directed by her regional marketing manager to cut prices on seasonal items,place an ad in the local paper,and tell distributors to reduce deliveries for the next month.Which step of the strategic marketing planning process is Carla engaged in?

Accepted Answer

A)  evaluate performance 
B)  define the business mission 
C)  perform situation analysis 
D)  implement marketing mix and resources 
E)  identify and evaluate opportunities 
A)  evaluate performance 
B)  define the business mission 
C)  perform situation analysis 
D)  implement marketing mix and resources 
E)  identify and evaluate opportunities

Question 17

A former advertising campaign for GEICO Insurance used the slogan "So easy,even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website.This campaign was part of GEICO's

Accepted Answer

A)  mission statement. 
B)  market segmentation plan. 
C)  product strategy. 
D)  customer excellence strategy. 
E)  positioning strategy. 
A)  mission statement. 
B)  market segmentation plan. 
C)  product strategy. 
D)  customer excellence strategy. 
E)  positioning strategy.

Question 18

Geraldo manages the electrical turbine engine division of General Electric Corporation.He makes most decisions independently,without consulting headquarters.Geraldo manages a strategic business unit.

Accepted Answer

A) True 
 B)False

Question 19

One example of a customer loyalty program is

Accepted Answer

A)  a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. 
B)  a quantity discount offered for large purchases at an office supply store. 
C)  seasonal sales on top-selling items. 
D)  an "everyday low price" policy on all products at a grocery store. 
E)  an extensive customer service training program for new employees at a hair salon. 
A)  a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. 
B)  a quantity discount offered for large purchases at an office supply store. 
C)  seasonal sales on top-selling items. 
D)  an "everyday low price" policy on all products at a grocery store. 
E)  an extensive customer service training program for new employees at a hair salon.

Question 20

Although most people do not have a personal marketing plan,when would one be appropriate?

Accepted Answer

Students might reflect on thei

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy.

The strategic planning process always proceeds sequentially through the five steps.

Some universities offer online degree programs,competing with traditional colleges based on the convenience of taking online courses.These online programs are most likely pursuing which macro strategy?

Which of the following factors,listed in a situation analysis for a major U.S.auto manufacturer,is the best example of a threat?

Even when large discount retailers enter a market,a few small,local retailers survive and prosper.These small retailers have probably developed a(n)________ that allows them to survive.

Fourteenth National Bank prides itself on offering better service than any of its competitors.If this is accurate,and if customers recognize and value Fourteenth National's superior service,the bank creates and delivers value through

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink.This positioning reflects Pepsi's

Lamar owns four dry cleaning stores in the suburbs of Orlando,Florida.He recently updated his STP analysis,and has just finished adjusting his marketing mix based on the STP results.His next strategic marketing decision will most likely involve determining

In a SWOT analysis,increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.

The strategic marketing planning process

The text states,"Viewing customers with a lifetime value perspective rather than on a transaction-by-transaction basis is key to modern customer retention programs." Create an example demonstrating a lifetime value perspective.Why is customer retention almost always a profitable marketing strategy?

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Carla has been directed by her regional marketing manager to cut prices on seasonal items,place an ad in the local paper,and tell distributors to reduce deliveries for the next month.Which step of the strategic marketing planning process is Carla engaged in?

A former advertising campaign for GEICO Insurance used the slogan "So easy,even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website.This campaign was part of GEICO's

Geraldo manages the electrical turbine engine division of General Electric Corporation.He makes most decisions independently,without consulting headquarters.Geraldo manages a strategic business unit.

One example of a customer loyalty program is

Although most people do not have a personal marketing plan,when would one be appropriate?

Overview of Marketing

Conscious Marketing,corporate Social Responsibility,and Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation,targeting,and Positioning

Marketing Research

Product,branding,and Packaging Decisions

Developing New Products

Services: the Intangible Product

Pricing Concepts for Establishing Value

Supply Chain and Channel Management

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 2: Developing Marketing Strategies and a Marketing Plan

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy.

The strategic planning process always proceeds sequentially through the five steps.

Some universities offer online degree programs,competing with traditional colleges based on the convenience of taking online courses.These online programs are most likely pursuing which macro strategy?

Which of the following factors,listed in a situation analysis for a major U.S.auto manufacturer,is the best example of a threat?

Even when large discount retailers enter a market,a few small,local retailers survive and prosper.These small retailers have probably developed a(n)________ that allows them to survive.

Fourteenth National Bank prides itself on offering better service than any of its competitors.If this is accurate,and if customers recognize and value Fourteenth National's superior service,the bank creates and delivers value through

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink.This positioning reflects Pepsi's

Lamar owns four dry cleaning stores in the suburbs of Orlando,Florida.He recently updated his STP analysis,and has just finished adjusting his marketing mix based on the STP results.His next strategic marketing decision will most likely involve determining

In a SWOT analysis,increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.

The strategic marketing planning process

The text states,"Viewing customers with a lifetime value perspective rather than on a transaction-by-transaction basis is key to modern customer retention programs." Create an example demonstrating a lifetime value perspective.Why is customer retention almost always a profitable marketing strategy?

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Carla has been directed by her regional marketing manager to cut prices on seasonal items,place an ad in the local paper,and tell distributors to reduce deliveries for the next month.Which step of the strategic marketing planning process is Carla engaged in?

A former advertising campaign for GEICO Insurance used the slogan "So easy,even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website.This campaign was part of GEICO's

Geraldo manages the electrical turbine engine division of General Electric Corporation.He makes most decisions independently,without consulting headquarters.Geraldo manages a strategic business unit.

One example of a customer loyalty program is

Although most people do not have a personal marketing plan,when would one be appropriate?

Overview of Marketing

Conscious Marketing,corporate Social Responsibility,and Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation,targeting,and Positioning

Marketing Research

Product,branding,and Packaging Decisions

Developing New Products

Services: the Intangible Product

Pricing Concepts for Establishing Value

Supply Chain and Channel Management

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters